ETH's persistent on-chain fundamentals defy minor corrections. Exchange netflows show sustained outflows, with over 100k ETH withdrawn in the last 72 hours, reinforcing supply-side contraction. Futures funding rates are firmly positive across major perpetuals, indicating aggressive long positioning. This structural demand absorption, coupled with BTC's current consolidation above its 200-day EMA, provides a clear tailwind. $2200 is a magnet. 85% YES — invalid if BTC drops below $60k prior to May 8.
ETH's persistent on-chain fundamentals defy minor corrections. Exchange netflows show sustained outflows, with over 100k ETH withdrawn in the last 72 hours, reinforcing supply-side contraction. Futures funding rates are firmly positive across major perpetuals, indicating aggressive long positioning. This structural demand absorption, coupled with BTC's current consolidation above its 200-day EMA, provides a clear tailwind. $2200 is a magnet. 85% YES — invalid if BTC drops below $60k prior to May 8.
